Ajman Bank sets New Record Jumping to 117.1 million up by 139% profit before tax (AED 107.4 million net profit)

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Ajman Bank sets New Record Jumping to 117.1 million up by 139% profit before tax (AED 107.4 million net profit)

Ajman Bank has reported an all time high quarterly profit in Q1 2024 of AED 107.4 million. This is on the back of a 7.0% increase in total operating income to AED 400.3 million as compared to AED 374.0 million in corresponding period of 2023, and net operating income of AED 194.8 million. Return on shareholder Equity (annualized) and Return on Asset (annualized) have doubled in Q1 2024 as compared to corresponding period of 2023 – respectively to 15.5% (up by 7.9%) and 1.9% (up by 1.0%).

His Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, Chairman of Ajman Bank, “Our strong financial performance in the first quarter of 2024 is a testament to the success of our transformation agenda committing to our shareholders, investors and clients enhancing our operational excellence. We have made significant progress, which underscores our strong market position. I extend my deepest gratitude to our team, whose dedication and hard work have been integral to our success.”

Mr. Mustafa Al Khalfawi, CEO of Ajman Bank, stated, “We have made significant progress, which underscores our strong market position and the substantial gains in shareholder equity and asset returns. Our first-quarter results are a clear reflection of our transformative journey, which has strategically propelled our expansion and diversified our business profile. We’ve focused on enhancing the continued value to our shareholders and supporting the economic landscape of the UAE. In addition to stringent cost containment and operational efficiencies within a resilient framework, emphasizing digital innovation and customer service excellence. Our rigorous approach to risk management and our commitment to addressing regulatory challenges have been crucial. Moreover, we are enhancing our leadership team with strategic talent to ensure that Ajman Bank is well-equipped to navigate future challenges and opportunities in the market.

The strong results are supported by a healthy balance sheet with Total Assets of AED 23.1 billion and AED 2.8 billion of Equity. Ajman Bank’s Capital adequacy ratio of 16.6% (up by 1.4%) and a Tier 1 Capital adequacy of 15.5% (up by 1.4%) remain well above regulatory requirements. Customer deposits of AED 19.3 billion, an advance to stable resources ratio of 76.3%, and an eligible liquid asset ratio of 21.0%, underline its solid liquidity and along with the capital position provide a strong foundation for continued growth.

This strong financial performance was delivered thanks to continued focus on expanding the customer base, enhancing the credit quality, risk management and focus on recoveries. The bank opened 2195 new accounts, 26% of them opened through digital channels. The bank also launched ‘Ajman Connect’ the new digital application with continued focus on digitizing and streamlining its end to end processes.

In line with it’s commitment toward sustainability, Ajman bank published its first sustainability report. The bank baselined its carbon emission across all operations and locations and which will pave the way for systematic tracking and reduction in the banks carbon footprint going forward.

The bank is confident that the solid foundation on the back of it’s strong Q1 2024 results, the ongoing transformation and the strength of the UAE economy will help it maintain a strong monentum for growth and continued profitability through 2024 and beyond.

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About Ajman Bank

Ajman Bank is an Islamic bank with an ambitious vision based on values of integrity, trust and transparency seeks to provide a wide range of Sharia-compliant and high-quality banking services to customers from individuals, companies and government institutions across the UAE. It is also keen to be updated with the latest technology that will ensure customers a distinctive experimental banking with the revival of human touch that is lost in the modern era of banking application.

Ajman Bank is headquartered in Ajman and enjoys the strong support of the Government of Ajman and is a key pillar in the emirate’s economic development strategy. The bank continues its tireless efforts to establish a prominent position in the banking sector as a sustainable Islamic banking institution, with an emphasis on the need to achieve an optimal balance in the community and caring staff, in order to provide real value for shareholders and customers alike. For more information visit http://www.ajmanbank.ae

Dubai FinTech Summit concludes with over 8,000 visitors from 118 countries

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Dubai FinTech Summit concludes with over 8,000 visitors from 118 countries
  • The 3rd edition of the Dubai FinTech Summit to be held on 7-8 May 2025, under the directives of His Highness Sheikh Maktoum.
  • The 2nd edition of Dubai FinTech Summit attracted over 8,000 visitors from 118 countries around the world.
  • Over 50 Memorandum of Understandings (MoUs) were signed during the Summit with global financial leaders.
  • More than 20 top investment management firms with investments in 12,000 companies participated in the Summit.

·      Nik Storonsky, Founder and CEO of Revolut inked expansion plans in the MEASA region, marking a significant step towards fostering financial inclusion through cutting-edge technology.

·      State Street Global Advisors’ President and Chief Executive Officer, Yie-Hsin Hung confirmed the reopening of its Dubai offices.

  • Dyna.Ai, the Singapore headquartered firm launched operations across Asia, the Middle East, Africa, Europe, North America and Latin America, with offices planned in the UAE, Saudi Arabia, and Nigeria.

Dubai, 8 May 2024: The 2nd edition of Dubai FinTech Summit (DFS) organised by Dubai International Financial Centre (DIFC), under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and President of DIFC, concluded with resounding success. The 3rd edition of the Dubai FinTech Summit will be held on 7-8 May 2025, also under the directives of His Highness Sheikh Maktoum.

From government officials and policy makers to start-up founders, the two-day Summit, held at Madinat Jumeirah, brought together an unprecedented gathering of more than 8,000 decision-makers from 118 countries around the world. These included over 300 thought leaders participating in 125 discussions across five stages and over 200 exhibitors showcasing cutting-edge technologies. Over 20 government dignitaries were also in attendance, including the Mayor of Seoul, Central Bank Governors, and Deputy Governors.

His Excellency, Essa Kazim, Governor of DIFC, commented: “The Dubai FinTech Summit is not just a gathering, it is a platform for transformative discussions and collective action. The Dubai FinTech Summit stands as a beacon of impact, progress, and collaboration, creating unprecedented opportunities for growth and innovation. Dubai is at the forefront of shaping the future of finance and will continue to strengthen its position as a leading global hub for FinTech firms.”

Arif Amiri, Chief Executive Officer at DIFC Authority, opened day two of the Summit, followed by two fireside chats with His Excellency Helal Saeed Al Marri, Director General, Department of Economy and Tourism, and Yie-Hsin Hung, President and Chief Executive Officer at State Street Global Advisors.

During his opening remarks, Arif Amiri, Chief Executive Officer at DIFC Authority, said: “Today, we are experiencing an extraordinary period of technological transformation where FinTech defines how we transact, how we save, and how we manage our financial lives. FinTech is also defining how traditional financial services companies operate. In recent years, we have seen FinTech revenues grow globally six-fold. We have also seen growing mainstream acceptance of cryptocurrencies, which is allowing for its market capitalisation to exceed USD 3trn. This year, FinTech is again expected to garner and secure an additional 5 per cent of global financial service revenues. In the next two years, digital payments are expected to increase over 10trn dollars, and by 2030, north of 25 per cent of banking valuations are expected to be driven by FinTech.

Dubai FinTech Summit offers a unique platform to explore the opportunities ahead of us, which is why, at DIFC, our strategy is firmly focused on being at the heart of this FinTech revolution. During our 20 years of operations, we have always embraced innovation. It is part of our X factor. We do not simply talk about it but engage with it; with the talent, with the investors and the regulators to execute it. Our visionary leadership has always enabled Dubai and DIFC to take a leading role in driving the future of finance and innovation. For this reason, we have built the region’s most comprehensive proposition that enables our clients to do and achieve great things in a place that integrates FinTech firmly into its DNA. In a place that attracts talented entrepreneurs, encourages collaboration, and provides global connectivity: a gateway between the east and the west, and a true nexus point for the global markets.”

Over 50 international associations participated in the Summit this year, including Africa FinTech Network, Business France, FinTech Philippines Association, European Blockchain Association, Global FinTech Alliance (GFA), Hong Kong FinTech Industry Association, International Digital Economy Association, Invest Seoul, Luxembourg Institute of Financial Technology (LHOFT), Swiss Finance & Technology Association and Women in Web3 Association, among others.

This year’s Summit saw the participation of over 1,000 investors, including more than 10 top executives from some of the world’s biggest banks, managing over USD 7trn in assets under management (AUM). In addition, over 40 FinTech and blockchain unicorns, with a combined market capitalisation of over USD 400bn were also present.

During the two days, over 30 side events were hosted by local, regional, and international partners of the Summit. Panels on the second day included a deep dive into some of the most pressing topics within the financial technology landscape, ranging from High Interest Rates and Macroeconomic Volatility, Institutional Adoption and Regulatory Clarity – Crypto’s Path Forward, and D33 – A Decade of Economic Transformation, among others.

Dubai FinTech Summit also witnessed the signing of more than 50 Memorandum of Understandings (MoUs) with global financial leaders, as well as several key announcements from attending businesses.

Nik Storonsky, Founder and CEO of Revolut announced expansion plans in the MEASA region, marking a significant step towards fostering financial inclusion through cutting-edge technology. Revolut is a global neobank and financial technology company with headquarters in the UK that offers banking services for retail customers and businesses.

Recognising the potential of operating in the region’s largest financial ecosystem, State Street Global Advisors’ CEO, Yie-Hsin Hung, also announced that the firm is making a welcome return to DIFC. Based on the region’s expanding opportunities, coupled with DIFC’s 20-year track record as a leading hub for finance and growth, DIFC has continued to draw in an extensive list of banks, advisors, high-net-worth individuals, family offices, and sovereign wealth funds seeking exposure to the region’s fast-growth markets within a future-forward regulated environment.

Dyna.Ai, the Singapore-headquartered firm announced the launch of its operations across Asia, the Middle East, Africa, Europe, North America and Latin America, aiming to transform businesses with AI. The company offers a suite of solutions for digital banking, risk management, audience communication, and employee productivity to address current financial challenges. In the MEA region, offices will be opened in the UAE, Saudi Arabia, and Nigeria. Dyna Athena, a newly launched AI platform, will provide revolutionary communication and interaction between customers, which will include features such as text-to-speech, language and speech processing. Dyna Avatar, a brand-new humanoid customer assistant, capable of real-time voice-activated conversations in Arabic, English, Chinese, Japanese and Thai, was also launched at the Summit.

Among several notable presentations, Crypto Oasis provided an insightful update on the UAE’s dynamic and ever-evolving blockchain ecosystem. According to the presentation, active companies have surged by 13 per cent year-on-year, reaching 2,040 organisations, with a healthy mix of 71 per cent native and 29 per cent non-native blockchain companies contributing to the ecosystem. There has also been a marked increase in the industry workforce, with over 10,600 individuals working in the blockchain space. One of the key factors driving the crypto industry has been an increase in regulatory clarity, which has helped to attract global brands such as Bybit, Crypto.com, and OKX, which each received Virtual Asset Service Provider (VASP) licenses from VARA.

In line with the Dubai Economic Agenda (D33) to position Dubai as the top four global financial hubs by 2033, DFS is designed to encourage cross-border collaboration and innovation, central to transforming the global FinTech sector. The Summit presented a unique opportunity for attendees to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region.

The 2nd edition of the Dubai FinTech Summit was supported by over 150 global corporate partners. Visa as Founding Partner & Co-Host; Emirates NBD as Premium Banking Partner; e& life as Powered By sponsor; Commercial Bank of Dubai (CBD) as Strategic Banking Partner; Finvasia as Lead Sponsor; SC Ventures as Strategic Venture Partner; Dynatech AI as Powered By sponsor; and Mashreq as Diamond Sponsor, among others.

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About Dubai FinTech Summit

Dubai FinTech Summit is an annual mega event organised by the Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region. The 2nd edition of the Dubai FinTech Summit will bring together over 8,000+ global industry leaders, 1,500+ investors and policy makers, signalling increased appetite for growth opportunities in the region.

Dubai FinTech Summit signals new wave of financial innovation, opportunity, transformation, and growth for the international financial services sector.  As a rising FinTech hub, Dubai is also spearheading the evolution of the financial services industry, with investments in FinTech projected to grow by 17.2 per cent CAGR to USD949 billion from 2022 to 2030. The Summit aligns with the Dubai Economic Agenda D33’s strategic goal of propelling Dubai into the ranks of the top four global financial hubs by 2033.

The expanded programme of Dubai FinTech Summit is set to exceed expectations by delving into key tracks, including the future of FinTech, embedded and Open Finance, climate finance, Web3 and digital assets. The summit stands as a thought leadership-driven platform, addressing industry challenges head-on and championing innovation.

Visit www.dubaiFinTechsummit.com

#Difc #DifcInnovationHub #DFS2024 #FinTech

For further enquiries, please contact:

Samia Ahmad
Assistant Manager, Marketing at DIFC Innovation Hub
E: samia.ahmad@difc.com  
Phone: +971 4 362 2657

Governor State Bank of Pakistan, Mr. Jameel Ahmad, Shares Pakistan’s Economic Success Story at AIM Congress 2024

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Governor State Bank of Pakistan, Mr. Jameel Ahmad, Shares Pakistan’s Economic Success Story at AIM Congress 2024

Governor State Bank of Pakistan, Mr. Jameel Ahmad participated in the roundtable panel discussion of Central Banks Governors and Presidents of Stock Exchange markets of different countries, at Annual Investment Meeting (AIM Congress) 2024 in Abu Dhabi.
He shared Pakistan’s perspective in successfully dealing with macroeconomic challenges and highlighted the efforts made towards stabilizing Pakistan’s economy and building investor’s confidence.

Dubai Fintech Summit 2024 I Plenary 3 I May 7 I Madinat Jumeriah Dubai

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Dubai Fintech Summit 2024 I Plenary 3 I May 7 I Madinat Jumeriah Dubai

Dubai Fintech Summit 2024 I Plenary 2 I May 7 I Madinat Jumeriah Dubai

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Dubai Fintech Summit 2024 I Plenary 2 I May 7 I Madinat Jumeriah Dubai

Dubai Fintech Summit 2024 I Plenary 1 I May 7 I Madinat Jumeriah Dubai

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Dubai Fintech Summit 2024 I Plenary 1 I May 7 I Madinat Jumeriah Dubai

Maktoum bin Mohammed engages with global policy makers and financial industry leaders at the second Dubai FinTech Summit

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Maktoum bin Mohammed engages with global policy makers and financial industry leaders at the second Dubai FinTech Summit

Meetings explore global cooperation and exchange of expertise in urban financial infrastructure, capital markets and FinTech, and new industry growth opportunities generated by Dubai

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and President of the Dubai International Financial Centre (DIFC), today met with global  policymakers and financial industry leaders on the sidelines of the second Dubai FinTech Summit (DFS).  

Influential decision makers that HH Sheikh Maktoum engaged with included Adena T Friedman, Chair and CEO of Nasdaq; Oh Se-Hoon, Mayor of Seoul, South Korea; Nic Dreckman, Group CEO of Julius Baer; and Nik Storonsky, Founder and CEO of Revolut.

The two-day Dubai FinTech Summit, organised by DIFC, the leading global financial centre in the MEASA region, opened today, bringing together over 8,000 decision-makers, over 300 thought leaders and more than 200 exhibitors to discuss the latest innovations and challenges and showcase cutting-edge technologies.

His Highness’s engagements focused on various areas including exchange of expertise in FinTech innovation, urban infrastructure development, and new capital market, wealth management and FinTech opportunities emerging as a result of Dubai’s new policies and initiatives.

HH Sheikh Maktoum’s meeting with Adena T Friedman, Chair and CEO of Nasdaq, one of the world’s largest stock exchanges, explored stronger ties between Dubai’s financial ecosystem and Nasdaq.

His Highness highlighted Dubai’s strategic initiatives to enhance the total volume of its stock markets to AED3 trillion and deepen its capital market ecosystem, making it a key destination for investors from across the world. Collaboration with global players like Nasdaq is vital to Dubai’s strategic efforts to advance investment growth and foster technology innovation in financial services, he added.

HH Sheikh Maktoum further said that Dubai’s long-standing partnership with Nasdaq has supported it in forging new pathways for excellence in the financial sector, and raising its status as a leading international financial centre.

Friedman commended Dubai’s progressive approach and expressed Nasdaq’s interest in exploring opportunities for collaboration in areas such as capital market development, and regulatory innovation.

His Highness’s meeting with Oh Se-hoon, Mayor of Seoul, explored avenues of collaboration between Dubai and Seoul, particularly in the areas of urban infrastructure development, technology, and innovation. Sheikh Maktoum emphasised Dubai’s commitment to fostering partnerships with leading global cities like Seoul, with the aim of exchanging expertise and best practices to drive sustainable growth and prosperity. He noted that both cities share many complementarities in their development journeys and the growth of their financial industries, which can be tapped to advance mutual growth.

Mayor Oh Se-hoon expressed his appreciation for Dubai’s leadership in various sectors and expressed keen interest in sharing experiences in the FinTech sector, to support the sustained development of their economies. 

HH Sheikh Maktoum also met with Nic Dreckmann, Group CEO of Julius Baer, a leading global player in the private banking industry, and Nikolay Storonsky, Founder and CEO of Revolut, an international neobank and financial technology company.

His Highness expressed Dubai’s commitment to creating a conducive environment for wealth management, investment and financial technology excellence, highlighting the city’s strategic initiatives to attract high-net-worth individuals, family offices and innovative FinTech companies. Dreckmann and Storonsky commended Dubai’s exceptional growth over the last decade as a global financial hub and expressed their companies’ interest in expanding their presence in the region, and leveraging Dubai’s advanced infrastructure and investor-friendly policies to serve their clients effectively.

With a presence in over 60 locations worldwide, including the Dubai International Financial Centre, Julius Baer is one of the globe’s leading providers of wealth management solutions. With assets under management worth CHF427 billion at the end of 2023, Julius Baer is the world’s largest pure-play private bank.

Revolut is a global neobank and financial technology company that offers banking services for retail customers and businesses. The company serves 40 million personal customers and 500,000 business customers in over 150 countries and regions.  

In line with the goal of the Dubai Economic Agenda D33 to establish Dubai as one of the world’s top four global financial hubs by 2033, the Dubai FinTech Summit is designed to encourage cross-border collaboration and innovation, which are pivotal to transforming the global FinTech sector. The event presents a unique opportunity to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region.

The meetings were attended by His Excellency Essa Kazim, Governor of DIFC; Arif Amiri, CEO of DIFC Authority; and Mohammad Alblooshi, CEO of DIFC Innovation Hub.

H.H. Sheikh Maktoum bin Mohammed opens second edition of Dubai FinTech Summit

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H.H. Sheikh Maktoum bin Mohammed opens second edition of Dubai FinTech Summit

Summit brings together more than 8,000 industry leaders from over 100 countries to discuss the future of FinTech and unlock new opportunities

Second edition of the Dubai FinTech Summit highlights the ongoing transformation of the technology-led financial sector

His Highness: Dubai provides a unique environment for FinTech companies to leverage new growth opportunities in this rapidly growing sector

“We have created a dynamic ecosystem for the FinTech industry to thrive, in line with the goal of the Dubai Economic Agenda D33 to establish the emirate as one of the top four financial centres worldwide”

Essa Kazim: DIFC’s unprecedented growth over the last 20 years consolidates Dubai’s status as the MEASA region’s foremost contributor to the global financial services industry

Arif Amiri: The summit not only highlights Dubai’s central role in the global financial ecosystem but also demonstrates our position as a catalyst for economic growth and technological advancement in the MEASA region and beyond

Government of Dubai Media Office – 06 May 2024: His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance of the UAE and President of DIFC, today opened the second edition of the Dubai FinTech Summit, which is being held at Madinat Jumeirah, Dubai under the theme ‘Pioneering FinTech’s Future’.

Organised by the Dubai International Financial Centre (DIFC), the leading global Financial Centre in the Middle East, Africa and South Asia (MEASA) region, this year’s Dubai FinTech Summit brings together more than 8,000 industry leaders from over 100 countries.

Commenting on the occasion, HH Sheikh Maktoum bin Mohammed said: “Dubai today has the ideal infrastructure and legislation to become the world’s global FinTech hub. The city provides a unique environment for FinTech companies to leverage new growth opportunities in this rapidly growing sector. We have created a dynamic ecosystem for the FinTech industry to thrive, in line with the goal of the Dubai Economic Agenda D33 to establish the emirate as one of the top four financial centres worldwide.”

His Highness added that the second edition of the Dubai FinTech Summit highlights the ongoing transformation of the technology-led financial sector, and the urgent need to focus on innovation, financial inclusion, and the impact of sustainability as a way of life. “Through collaboration and partnerships between banks, financial technology companies, and financial services application platforms, Dubai is poised to lead the future of this dynamic sector. By focusing on customer and investor-centric financial and banking services, this will pave the way for significant advancements in the future,” Sheikh Maktoum said.

His Highness added: “The summit will foster rich discussions on the evolving landscape of finance, driven by the transformative forces of artificial intelligence, digital currencies, and innovative technology. Together with industry leaders, we look forward to exploring the positive impact and opportunities inherent in the use of artificial intelligence in financial services, the growing world of digital currencies and blockchain technology. With its progressive policies, innovative regulations and advanced infrastructure, there is no limit to what Dubai can accomplish in the sector.”

During his visit, His Highness Sheikh Maktoum attended the opening session of the summit and met with several global leaders in tech, finance and regulatory reform.

His Excellency Essa Kazim, Governor at DIFC, said: “DIFC has become a major engine of growth for Dubai’s economy and a significant contributor to its GDP. Its accelerated growth trajectory is perfectly aligned with the goals of the Dubai Economic Agenda, D33 to double the size of Dubai’s economy over the next decade and reinforce its status as one of the world’s top three cities for business and investment. DIFC’s unprecedented growth over the last 20 years consolidates Dubai’s status as the MEASA region’s foremost contributor to the global financial services industry.”

He added, “Through strategic initiatives, we seek to provide a dynamic environment for innovation and enterprise to flourish. Dubai and DIFC have invested heavily in its FinTech ecosystem by creating a supportive and agile regulatory framework, and by providing access to funding, sand-box environments and state-of-the-art infrastructure for start-ups and established companies alike. The Dubai FinTech Summit also presents a unique opportunity for collaboration between traditional financial institutions and FinTech firms, especially with rapid AI advancements driving innovation within the sector.”

The Dubai FinTech Summit offers the perfect platform for start-ups, investors and industry leaders to connect and capitalise on the growing FinTech market in the region and beyond. The MENA region’s FinTech start-up and venture capital landscape is booming, with over 800 FinTech start-ups worth $15.5 billion, according to data by dealroom.co.

Arif Amiri, Chief Executive Officer at DIFC Authority, said: “DIFC offers a thriving business environment where technology meets opportunity, enabling FinTech companies to excel and expand on a global scale. By fostering robust partnerships and facilitating cross-border collaboration, we are setting new standards for financial excellence. The Dubai FinTech Summit exemplifies this commitment by bringing together industry leaders, innovators, and policymakers from around the world to discuss the future of finance. The platform not only highlights Dubai’s central role in the global financial ecosystem but also demonstrates our position as a catalyst for economic growth and technological advancement in the MEASA region and beyond.”

Investments in FinTech, projected to grow by 17.2% CAGR to $949 billion from 2022 to 2030, are further accelerating the ongoing pace of FinTech innovation globally and in Dubai, which offers access to high-growth emerging markets in the Middle East and North Africa (MENA), Western Europe, Asia and Africa.

The second edition of the Dubai FinTech Summit is taking place at an unprecedented scale for an event focused purely on FinTech. In line with D33 to position Dubai as the top four global financial hub by 2033, the Dubai FinTech Summit is designed to encourage cross-border collaboration and innovation, pivotal to transforming the global FinTech sector. It presents a unique opportunity to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region.

With a strong line-up of distinguished local and international speakers in attendance during the two-day summit, the Dubai FinTech Summit promises engaging and thought-provoking panel discussions and fireside chats. Delegates will access key insights from His Excellency Abdulla bin Touq Al Marri, UAE Minister of Economy; His Excellency Fahad M. Alturki, Director General and Chairman of the Board of the Arab Monetary Fund; His Excellency Helal Saeed Al Marri, Director General of Dubai Department of Economy and Tourism; and His Excellency Faisal Belhoul, Vice Chairman of the Dubai Chamber and Chairman of J&F Holding.

Adena T. Friedman, Chair and Chief Executive Officer of Nasdaq; Nic Dreckmann, Chief Executive Officer of Bank Julius Baer; Yie-Hsin Hung, President and Chief Executive Officer of State Street Global Advisors; along with many other global industry leaders will also bring their perspectives on the future of FinTech.

Day one of the Dubai FinTech Summit saw insightful debates on the topics of ‘Regulation and Policymaking’; ‘Crypto Payments’; ‘Embedded and Open Finance’; ‘AI and the Future of Finance’; ‘VC, Entrepreneurship and Beyond’; ‘Corporate Finance’; ‘Financial Inclusion and Consumer Protection’; and more.

Day two promises equally vibrant discussions with opening remarks by Arif Amiri, Chief Executive Officer of DIFC Authority, followed by high profile fireside chats with global industry leaders including sessions on ‘High Interest Rates and Macroeconomic Volatility’; ‘Institutional Adoption and Regulatory Clarity – Crypto’s Path Forward’; ‘D33- A Decade of Economic Transformation’ and more. View the full agenda here.

The second edition of the Dubai FinTech Summit is supported by over 150 global corporate partners, with Visa as founding partner and co-host; Emirates NBD as founding partner and premium banking sponsor; e& as founding partner and ‘powered by’ sponsor; and Commercial Bank of Dubai as founding partner and strategic banking sponsor.

Takaful Bazaar to Showcase World’s First Embedded Takaful Platform at DIFC Fintech Summit 2024

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Takaful Bazaar to Showcase World’s First Embedded Takaful Platform at DIFC Fintech Summit 2024

Dubai, UAE – Takaful Bazaar, a pioneering InsurTech startup based in the UAE, is excited to announce its participation in the prestigious Dubai International Financial Centre (DIFC) Fintech Summit 2024. As the world’s first provider of an embedded Takaful platform, Takaful Bazaar will demonstrate its groundbreaking solutions, initially launched as a successful proof of concept in Pakistan.

Since its inception, Takaful Bazaar has committed to providing innovative and ethical financial products tailored for the Middle East, North Africa and Pakistan (MENAP) region. The company’s participation at the summit underscores its dedication to revolutionizing the Takaful landscape with technology-driven solutions.

Mustafa R. Muhammadi, CEO of Takaful Bazaar, remarked, “The MENAP region harbors vast untapped potential increasingly recognized by the global financial community. We are excited to spearhead this exploration through our embedded Takaful platform. This initiative not only streamlines but also enhances the distribution and consumption of Takaful products. Our presence at the DIFC Fintech Summit reaffirms our vision and commitment to innovating InsurTech in this dynamic region.”

Takaful Bazaar’s embedded platform allows partners, including car dealerships, healthcare providers, travel booking platforms, to seamlessly integrate Takaful offerings into their sales processes. This integration provides customers with immediate, seamless, and compliant coverage options, setting a new industry standard.

The summit organized by DIFC provides Takaful Bazaar with a prime opportunity to display its technological innovations and to engage with industry leaders, potential investors, and partners from around the world.

For more information, please visit www.takafulbazaar.com

About Takaful Bazaar

Takaful Bazaar is a UAE-based InsurTech startup committed to delivering innovative and ethical Takaful solutions across the MENAP region. With its launch of the world’s first embedded Takaful platform, the company is transforming how Takaful products are offered, making them more accessible, convenient, and integrated into everyday transactions.

End of Release

For media inquiries, please contact:

Public Relations Department

PR@takafulbazaar.com

Apparel Group and myZoi Forge Partnership to Drive Financial Inclusion for Over 4,000 Underbanked Employees

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Apparel Group and myZoi Forge Partnership to Drive Financial Inclusion for Over 4,000 Underbanked Employees

Apparel Group and myZoi Forge Partnership to Drive Financial Inclusion for Over 4,000 Underbanked Employees

  • Apparel Group Enhances Home Transfer Services through myZoi App
  • Apparel Group to extend myZoi’s payroll, domestic payments, home transfer, and financial education offering to its employees.
  • Together, myZoi and Apparel will advance the social elements of ESG.

In a significant announcement made at the Dubai Fintech Summit, Apparel Group, a leading global fashion and lifestyle retail conglomerate, and myZoi, a pioneering fintech incubated at SC Ventures, unveiled a strategic partnership set to redefine financial inclusion for low-income employees. This collaboration will deliver advanced digital payroll solutions and comprehensive financial literacy programs, directly benefiting over 4,000 employees of Apparel Group. The initiative was jointly announced by Syed Muhammad Ali, CEO of myZoi, and Neeraj Teckchandani, CEO of Apparel Group, marking a major step forward in leveraging financial technology to enhance workforce empowerment.

MyZoi, which has secured crucial licensing from the Central Bank of the UAE, including Stored Valued Facilities, Retail Payments Services, and Card Schemes licenses, is positioned to dramatically improve financial access and education for Apparel Group’s employees. This partnership not only addresses immediate payroll processing efficiencies but also aims at a broader impact, including improved financial wellbeing and security for a significant segment of Apparel Group’s workforce.

Neeraj Teckchandani, CEO of Apparel Group, said: “As leaders in the retail sector, we recognize our responsibility to not only drive business success but also foster substantial social change. This partnership with myZoi represents a transformative leap towards creating a more financially inclusive ecosystem. By equipping our team with essential financial skills and tools, we are investing in their future, ensuring they have the opportunities and resources necessary to prosper. We are proud to lead the charge in this critical aspect of social sustainability, aiming to inspire and ignite similar initiatives across industries.”

Syed Muhammad Ali, CEO of myZoi said: “We’re thrilled to welcome such a reputable and purpose driven partner on board who shares our mission of bringing simple, affordable, and safe financial solutions to employees that are under or unbanked. We’re excited to work on this agenda together and extend our financial solutions to Apparel’s employees and their families as we work together toward implementing the solution in the near future”.

The partnership reinforces Apparel Group’s commitment to its Environmental, Social, and Governance (ESG) goals, specifically focusing on enhancing economic inclusion and setting industry benchmarks in social responsibility through innovative financial technology

For further information: 
Asmik Akopyan
Head of Brand and Marketing
E-mail: asmik@myzoi.life

About myZoi

myZoi is committed to promote financial inclusion of every underbanked individual globally through tailored financial services, elevating their living standards over time. Headquartered in the UAE, myZoi is a wholly owned subsidiary of Standard Chartered Bank and a fintech backed by SC Ventures – the Bank’s innovation, fintech investment and ventures arm.

About Apparel Group LLC

Apparel Group is a global fashion and lifestyle retail conglomerate residing at the crossroads of the modern economy – Dubai, United Arab Emirates. Today, Apparel Group caters to thousands of eager shoppers through its 2200+ retail stores and 85+ brands on all platforms while employing over 22,000+ multicultural staff.

Apparel Group has carved its strong presence in the GCC and expanded thriving gateways to market in India, South Africa, Singapore, Indonesia, Thailand, Malaysia, and Egypt. Additionally, clear strategies are in place to enter emerging markets such as Hungary and Philippines.

Apparel Group has created an omni-channel experience, operating brands originating from the USA, Canada, Europe, Australia, and Asia. The brands include leading names in fashion, footwear, and lifestyles such as Tommy Hilfiger, Charles & Keith, Skechers, Aldo, Nine West, Aeropostale, Jamie’s Italian, Tim Hortons, Cold Stone Creamery, Inglot, and Rituals.

Apparel Group owes its amazing growth to the vision and guidance of its dynamic Founder and Chairwoman, Mrs. Sima Ganwani Ved, who has taken the company from strength to strength since its inception in the last two decades.

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About SC Ventures

SC Ventures is a business unit that provides a platform and catalyst for Standard Chartered to promote innovation, invest in disruptive financial technology and explore alternative business models.

For more information, please visit www.scventures.io and follow SC Ventures on LinkedIn.

About Standard Chartered

We are a leading international banking group, with a presence in 53 of the world’s most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges. For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on Twitter, LinkedIn, Instagram and Facebook.

ITALIAFINTECH FORMS STRATEGIC PARTNERSHIP WITH THE DUBAI FINTECH SUMMIT

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ITALIAFINTECH FORMS STRATEGIC PARTNERSHIP WITH THE DUBAI FINTECH SUMMIT

ItaliaFintech led by General Manager Camilla Cionini Visani, who is also the Italian Ambassador for the Dubai Fintech Summit, is pleased to announce a strategic partnership with the Dubai Fintech Summit. This alliance aims to promote financial innovation by fostering synergies between the Italian and global fintech ecosystems. The partnership is an important step in driving technological progress and promoting financial empowerment through innovative solutions, promising new opportunities and developments for stakeholders in both regions and strengthening the Italian fintech ecosystem in the MENA region.

The Global Fintech Alliance Names Its Board of Directors

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The Global Fintech Alliance Names Its Board of Directors

The Global Fintech Alliance Names Its Board of Directors

  • The founding members elected by vote to have a Chairman and Regional Board Members for Africa, Americas, Asia, and Europe.
  • This alliance brings together over 100 countries under the European Digital Finance Association (EDFA), the FinTech Alliance Iberoamerica (FIA), the Africa FinTech Network (AFN), and Digital ASEAN & Digital Philippines & IDEA.
  • The first General Assembly will take place in May during the Dubai FinTech Summit.

The Global Fintech Alliance (GFA) the world’s most extensive FinTech ecosystem, has named its board of directors as one important step after the first meeting of some of their founding members in Madrid (Spain). This groundbreaking alliance brings together over 100 countries and four major regional networks, including the European Digital Finance Association (EDFA), the FinTech Alliance Iberoamerica (FIA), the Africa FinTech Network (AFN), and Digital ASEAN & Digital Philippines & IDEA. In the short term more regions will be included.

Its primary aim is to connect the global digital finance industry, facilitating the globalization of businesses within the sector and the Financial Inclusion. By fostering collaboration across continents, the GFA strives to support the digital finance industry’s growth and innovation, making it a central hub for financial technology advancements globally. This global block of digital finance (fintech) business associations will be the counterpart for a wide diversity of stakeholders worldwide and the largest lab to test and implement validated policies, standards, and pathways of international cooperation.

The board of directors

Rodrigo García de la Cruz (https://www.linkedin.com/in/rodrigogarciadelacruz/) has been appointed as the Chairman of the GFA. He is also a founding member of the Global FinTech Alliance, Fintech Iberoamerica Alliance, the European FinTech Alliance, the Spanish Fintech and InsurTech Association, and the International Digital Economies Association (iDEA). Additionally, he is founder of Finnovating, a B2B Matching Platform connecting 30,000 tech companies from 160 countries.

Amor Maclang (https://www.linkedin.com/in/amor-maclang-59670a1/) will serve as the Board Member for Asia region in the GFA, representing Digital ASEAN, Digital Philippines, & IDEA. As a founding member of Digital Pilipinas and the International Digital Economies Association (iDEA), and as Founder and ChairFounder of Digital Pilipinas, she is a trailblazer in building digital ecosystems in ASEAN, committed to global digital connectivity.

Niklas Sandqvist (https://www.linkedin.com/in/sandqvist/) has been appointed as the Board Member for European region in the GFA. With an extensive background in the European industry, Niklas serves as co-Secretary General of the European Digital Finance Association and is recognized as a serial co-founder of various industry communities like Fintech Norway, Nordic Initiative and EDFA. His influence extends further through his involvement in various industry roles in Brussels.

Roberto Vargas (https://www.linkedin.com/in/robertovargasb/) will serve as the Board Member for Americas region in the Global FinTech Alliance, representing the Fintech Iberoamerica Alliance. He currently holds the position of President of the Fintech Iberoamerica Alliance and the Fintech Association of Peru, while also serving as CEO at Betriax. He is one of the promoters of GFA.

Segun Aina (https://www.linkedin.com/in/segunainalaw/) will serve as the Board Member for Africa Region in the Global FinTech Alliance, representing Africa Fintech Network. In the fintech space, he currently holds the position of President of Africa Fintech Network, Chairman of Board of Trustees at Fintech Association of Nigeria, Chairman of Fintech Associates Ltd and Chairman of the Board at Opolo Global Innovation.

General Assembly in Dubai in May

Following the inaugural meeting in Madrid this past February, attended by some of the founding members, the first general assembly of the GFA will convene in Dubai. This opportune timing coincides with the recent establishment of a global partnership with the Dubai FinTech Summit, scheduled for May 6th and 7th. Founding members of the GFA will not only have the chance to expand their membership base but also to network with other global leaders. This presents a unique opportunity to forge collaborative agreements with those who share a holistic vision of the fintech sector and digital finance.

About the Founding Members

Africa Fintech Network (AFN): AFN serves as a unifying platform for Africa’s fintech leaders, organizations, and stakeholders across over 40 countries, fostering innovation, advocacy, and coordinated regulatory interactions.

Digital ASEAN, Digital Philippines, & IDEA: Digital ASEAN and Digital Philippines champion technology as core advocacy tools, while IDEA unites industry leaders globally to shape a more connected and innovative digital landscape.

European Digital Finance Association (EDFA): EDFA advocates for innovative, affordable, and secure financial services across Europe, representing over 18 countries and thousands of members.

Ibero-American Fintech Alliance (FIA): Established in June 2017, FIA aims to advance fintech development globally, focusing on Latin America, the Caribbean and Spain, through initiatives promoting entrepreneurship, competitiveness, and financial inclusion across more than 18 countries.

By naming its board of directors and establishing strategic partnerships, the Global Fintech Alliance is poised to drive transformative change in the global digital finance landscape, fostering collaboration and innovation across borders.

More information: https://www.linkedin.com/company/global-fintech-alliance/?viewAsMember=true

ARY MILLIGOLD WEEKLY

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Ajman Bank Appoints Adrian P.L. Hodges as Group Treasurer

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Ajman Bank Appoints Adrian P.L. Hodges as Group Treasurer

Ajman Bank has announced the appointment of Mr. Adrian P.L. Hodges as the new Group Treasurer. With over three decades of robust experience in treasury and global markets, Mr. Hodges brings a wealth of expertise and a proven track record of strategic financial leadership to his new role. Prior to joining Ajman Bank, Mr. Hodges served as the Head of Global Markets Solutions at the Commercial Bank of Dubai, where he played a pivotal role in transforming the bank’s foreign exchange operations into a dynamic, solution-driven global markets service.

Making the announcement, Mr. Mustafa Al Khalfawi, Group CEO of Ajman Bank, stated, “Mr. Hodges’ appointment is a testament to Ajman Bank’s commitment to attracting top talent to foster our strategic objectives. His extensive experience and expertise will play a valuable role as we continue to enhance our financial services and client offerings in an ever-evolving banking landscape.”

Mr. Hodges said, “I am excited to join Ajman Bank and look forward to contributing to its distinguished trajectory in the financial sector. My focus will be on leveraging my global experience to enhance the treasury operations and to drive forward the bank’s strategic financial initiatives.”

Mr. Hodges’ career is distinguished by a robust track record of establishing client P&L businesses, leading organizational change, and achieving significant financial results within a precise vision and defined risk framework. Over the years, he has held many senior positions contributing to the success of several financial institutions such as President – Head of Structured Treasury Solutions, Abu Dhabi Commercial Bank; and Head Structuring & Sales, Treasury & Investments, National Bank of Dubai; among others.

Mr. Hodges holds a Bachelor’s degree in Economics from Southampton University in the United Kingdom and has enhanced his professional skills with several prominent certifications, including Strategic Asset-Liability Management from London Financial Studies and leadership training from INSEAD in Singapore. He continues to enhance his global experience with a hands-on approach that includes setting strategic agendas, regulatory compliance, and corporate governance, enriching his work and his new role at Ajman Bank.

Mr. Hodges is known for his dynamic personal qualities, ambition, and unique abilities in leadership, motivation, and team success, making him a successful and experienced leader amid the complexities and changes in today’s global financial markets.

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About Ajman Bank

Ajman Bank is an Islamic bank with an ambitious vision based on values of integrity, trust and transparency seeks to provide a wide range of Sharia-compliant and high-quality banking services to customers from individuals, companies and government institutions across the UAE. It is also keen to be updated with the latest technology that will ensure customers a distinctive experimental banking with the revival of human touch that is lost in the modern era of banking application.

Ajman Bank is headquartered in Ajman and enjoys the strong support of the Government of Ajman and is a key pillar in the emirate’s economic development strategy. The bank continues its tireless efforts to establish a prominent position in the banking sector as a sustainable Islamic banking institution, with an emphasis on the need to achieve an optimal balance in the community and caring staff, in order to provide real value for shareholders and customers alike. For more information visit http://www.ajmanbank.ae

For media contact:

Hina Bakht

Managing Director

EVOPS Marketing & PR

Mob: 00971 50 6975146

Tel: 00971 4 566 7355

Hina.bakht@evops-pr.com

www.evops-pr.com

Queen Elizabeth 2 Hotel in Dubai is All Set for a Strong Show at Arabian Travel Market Dubai

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Queen Elizabeth 2 Hotel in Dubai is All Set for a Strong Show at Arabian Travel Market Dubai

The Queen Elizabeth 2 Hotel in Dubai has announced its participation in the Arabian Travel Market (ATM) 2024, set to take place from 6-9 May at the Dubai World Trade Centre. As the only floating hotel in Dubai, QE2 will be joining the ranks of the most unique exhibitors from across the world, showcasing its exceptional maritime heritage and experiences to the global travel trade community.

Ferghal Purcell, General Manager, Queen Elizabeth 2 Hotel, said, “The Queen Elizabeth 2 Hotel epitomizes the evolution of travel. Combining our storied past with modern comforts, we offer guests unparalleled experiences. At the Arabian Travel Market Dubai we plan to unveil our latest initiatives and services designed to enhance the guest experience. From innovative sustainability practices aimed at protecting the environment and conserving natural resources to the introduction of the latest technology enhancing guest interactions, at the QE2 we are committed to leading by example in the travel industry. Visitors to our booth will have the opportunity to explore the ship’s rich history, discover our wide range of facilities, and learn about the vessel’s journey from a legendary ocean liner to an iconic hotel in Dubai.”

The Arabian Travel Market 2024, held in conjunction with the Dubai Department of Economy and Tourism (DET), Emirates, and other strategic partners, is the premier event for travel professionals. As it celebrates its 31st edition, ATM 2024 will continue to foster innovation, drive industry growth, and provide a platform for policymakers, industry leaders, and travel experts to forge new relationships and explore opportunities for the future.

Ferghal stressed, “At the QE2 we are honored to be part of an event that not only showcases the best of travel but also sets the stage for the future of the industry. We invite attendees to visit our booth to experience the unique blend of heritage and hospitality that the QE2 offers as well as know more about our green initiatives that are aimed at contributing to a more sustainable world. We believe together, we can create a future where nature thrives.”

Visitors can find Queen Elizabeth 2 Hotel at the Dubai Stand: ME1120

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About Queen Elizabeth 2 Hotel, Managed by Accor

Queen Elizabeth 2 Hotel, managed by Accor, is a historic gem and the only floating hotel in emirates. Located in Port Rashid, in close proximity to Dubai’s main attractions and shopping malls, its 447 renovated rooms and suites are carefully decorated, offering a peaceful retreat in which to relax and unwind.

Guests can experience a culinary journey with innovative menus onboard the QE2. The hotel’s dining outlets include Lido – an all-day dining restaurant; The Golden Lion – the oldest pub in Dubai; The Pavilion – an alfresco lounge; and the Queens Grill – serving Afternoon Tea.

For those seeking an event with a difference, the iconic QE2 offers multiple one-of-a-kind venues in Dubai. Included in its facilities are unique indoor and outdoor event spaces. Whether you are planning a birthday bash, an anniversary party, a wedding celebration, or any other social or corporate functions, the QE2 provides an inspiring and impressive backdrop that will delight your guests.

For reservations & Inquiries

Call +971 4 526 8888 or email Reservations.qe2@accor.com

Or visit https://www.qe2.com

For Media Inquiries contact:

Hina Bakht

Managing Director

EVOPS Marketing & PR

Mob: 00971 50 6975146

Tel: 00971 4 566 7355

Hina.bakht@evops-pr.com

www.evops-pr.com

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Finvasia joins Dubai FinTech Summit as a Lead Sponsor

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Finvasia joins Dubai FinTech Summit as a Lead Sponsor

§  The collaboration reinforces Dubai FinTech Summit and Finvasia’s shared commitment to strengthen the global financial ecosystem through innovation and knowledge exchange.§  The partnership sets the stage for the transformative 2nd edition of the Dubai FinTech Summit empowering the FinTech ecosystem with the tools, resources, and networks needed to innovate and grow. Dubai, 1 May 2024: Finvasia, a global innovator leveraging engineering and technology, has joined the Dubai FinTech Summit (DFS), organised by Dubai International Financial Centre (DIFC), the leading global Financial Centre in the MEASA region, as a Lead Sponsor, underscoring its dedication to support businesses with a cost-effective, ethical and integrated ecosystem of products and services that inter-operate across various industry segments. Finvasia Group was established in Canada and India in 2009, with a vision to make financial markets easily accessible to the masses around the globe. Since its foundation, Finvasia has served over 5 million clients in more than 190 countries and has transacted trillions of USD worth in value through its 10+ brands combined. Its objective to create ethical, sustainable products that benefit stakeholders, leveraging economies of scale and scope to drive positive change in every industry Finvasia engages with. Sarvjeet Virk, Co-founder & Manging Director Finvasia, said, “Dubai FinTech Summit serves as an international stage for us to display our advanced financial products and contribute to the global FinTech dialogue. At DFS 2024, we’ll spotlight our AI-based financial products and chat about how they make finance more inclusive for everyone. We’ll also dive into the exciting possibilities of using technology to revolutionize finance by leveraging these technologies for cross-border fintech integration, reinforcing the role of AI in shaping a future where financial inclusivity is the norm.“DFS is a  platform that allows us to foster technological exchanges and partnerships that transcend borders, particularly within the expanding domain of financial technology and highlighting the collaborative relationship between India and Dubai. The Dubai FinTech Summit serves as a crucial opportunity for us to demonstrate the capabilities of Indian FinTech on a global stage, advancing our mission towards creating a universally accessible financial environment led by technology.”In line with the Dubai Economic Agenda (D33) to position Dubai as the top four global financial hub by 2033, the 2nd edition of the Dubai FinTech Summit is designed to encourage cross-border collaboration and innovation, pivotal to transforming the global FinTech sector. It presents a unique opportunity to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region. The Dubai FinTech Summit, scheduled for May 6-7, 2024, at Madinat Jumeirah, Dubai, will see an unprecedented gathering of over 8,000 decision-makers, over 300 thought leaders and over 200 exhibitors showcasing cutting-edge technologies. #Difc #DifcInnovationHub #DFS2024 #Fintech #Finvasia #AI # #artificialintelligence #InnovationInFinance #EthicalFinTech #FinancialInclusion #TechForGood #GlobalEnterprise #FinTechDisruptionEND About Dubai FinTech Summit Dubai FinTech Summit is an annual mega event organised by the Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region. The 2nd edition of the Dubai FinTech Summit will bring together over 8,000+ global industry leaders, 1,500+ investors and policy makers, signalling increased appetite for growth opportunities in the region.Dubai FinTech Summit signals new wave of financial innovation, opportunity, transformation, and growth for the international financial services sector.  As a rising FinTech hub, Dubai is also spearheading the evolution of the financial services industry, with investments in FinTech projected to grow by 17.2 per cent CAGR to USD949 bn from 2022 to 2030. The summit aligns with the Dubai Economic Agenda D33’s strategic goal of propelling Dubai into the ranks of the top four global financial hubs by 2033. The expanded programme of Dubai FinTech Summit is set to exceed expectations by delving into key tracks, including the future of FinTech, embedded and Open Finance, climate finance, Web3 and digital assets. The summit stands as a thought leadership-driven platform, addressing industry challenges head-on and championing innovation. To register for the event, visit www.dubaifintechsummit.com. Visitors can purchase tickets for the Dubai FinTech Summit 2024. For further enquiries, please contact: Samia AhmadAssistant Manager, Marketing at DIFC Innovation HubM: +971529980096E: samia.ahmad@difc.ae Or Shadi DawiDirector of PR & Strategic PartnershipsTrescon GlobalMobile: +971 55 498 4989shadi@tresconglobal.com

Quote by HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, on International Workers Day 2024

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Quote by HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, on International Workers Day 2024

“Our vision is inspired by the words of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who said: ‘Working as a team, everybody takes part in building the UAE.’ At Dubai Electricity and Water Authority (DEWA), we adhere to all UAE government laws and regulations that protect the rights of workers, regardless of their religion, race, or culture. This enhances the competitive indicators of the UAE and Dubai at all levels. We work to promote an inclusive and diverse work environment; treat all employees professionally, respectfully and without discrimination; and provide equal opportunities for success. We are committed to implementing administrative action procedures that are fair, consistent, uniform and prompt to discourage negative behaviour in the workplace environment. We have  grievances and complaints regulation, mechanism and systems for our employees, seconded or deputed to DEWA in order to raise any concerns or complaints from their end. We are keen to enhance happiness, positivity, quality of life and flexibility in the work environment, to enhance the elements of sustainable success, competitiveness and excellence, to achieve indicators of leadership in the human resources sector and to raise indicators of happiness for employees. We implement a comprehensive talent management strategy, emphasising the identification of requisite skills, provision of training opportunities, and fostering employee development. We have adopted a Policy for Valuing and Managing HR Diversity that positively impacts organisational performance. DEWA prioritises employee engagement through open communication, feedback channels, and regular surveys to gather insights and suggestions. Additionally, DEWA emphasises performance management, evaluating employees based on their performance and offering feedback and coaching for skill enhancement. As a world-class workplace, DEWA rewards its employees fairly and generously based on their performance,” said HE Saeed Mohammed Al Tayer, MD & CEO of DEWA.

“DEWA’s workforce includes a team of skilled professionals, including engineers, technicians, and other employees who have sufficient experience and knowledge that enable them to provide electricity and water services with high reliability and efficiency. As of 2023, DEWA’s total employee count stood at 10,726 from 62 nationalities, with 18.05% being females, underscoring the organisation’s gender-inclusive employment practices,” added Al Tayer.

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